57 AUDITED FINANCIAL STATEMENTS 2021 NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 4 FINANCIAL RISK MANAGEMENT (CONTINUED) (a) Financial risk management policies (continued) Market risk (continued) (iii) Finance rate risk (continued) The finance rate profile of the Group’s and Company’s finance bearing financial assets, based on carrying amounts as at the end of the reporting period is as follows: Group Company 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Financial assets At fixed rate Fixed deposits 1,606,219 1,165,187 327,178 10,767 At floating rate (exposed to cash flow finance rate risk) Loans due from subsidiaries – – 216,830 368,886 The finance rate profile of the Group’s and Company’s finance bearing financial liabilities, based on carrying amounts as at the end of the reporting period is as follows: Group Company 2021 2020 2021 2020 RM’000 RM’000 RM’000 RM’000 Financial liabilities At fixed rate Loans due to ultimate holding company 634,665 886,188 634,665 886,188 Loans due to subsidiaries – – 806,789 1,283,922 Sukuk 496,451 – 496,451 – Islamic short term trade financing 1,946,431 2,275,107 – 75,080 Short term trade financing 241,173 258,162 – – Islamic term loans 12,732 – – – 3,331,452 3,419,457 1,937,905 2,245,190 At floating rate (exposed to cash flow finance rate risk) LLA liability 3,804,790 4,213,824 – - Loans due to subsidiaries – – – 121,537 Islamic term loans 666,710 873,495 – - 4,471,500 5,087,319 – 121,537 7,802,952 8,506,776 1,937,905 2,366,727 If discount rate on LLA liability increased/decreased by 50 basis points and finance rate on borrowings decreased/increased by 100 basis points with all other variables held constant, the profit after tax of the Group will increase by RM188,579,000 (2020: RM183,915,000) and decrease by RM110,421,000 (2020: RM116,712,000) respectively. Other financial assets and financial liabilities are non-interest bearing, and therefore are not affected by changes in finance rates.
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